The US government has sold over $215 million worth of Bitcoins from the Silk Road marketplace that were seized in a historic seizure back in November. Hacker James Zhong confessed to stealing the crypto before cops took it, and the US government is now looking to sell the remaining 41,490 Bitcoins throughout 2023 in four different batches. The effect of this move on the Bitcoin market amid a brutal bear market is unclear.

Source: Decrypt

Original Link: https://decrypt.co/125081/us-government-dumps-seized-silk-road-bitcoin